Cash requests!

November 3rd, 2023

It is not the role of an aged care operator and actually illegal to be actually facilitating and managing someones money without authority.

“Management” of personal monies and “Authority” must be the finanical power of attorney (State Leglislation), or the individual themselves (if capability). Financial managers ususally have a budget. Individuals who do not manage their own money have a public trustee appointed or it might be family or friends.

Individual’s managing their own cash are generally more independent, getting money from ATM’s, using their own debit card, or getting cash from family and keeping locked in their room.

Individuals who are not independent would generally be with a staff member, who would purchase on their behalf with a Capital Guardians Debit Card.

Aged care operators, rarely, offer a personal book keeping service, and if they did, it is taking resources away from care and lifestyle, as they are not funded to provide pesonal book keeping services.

It is up to the responsible party then to ensure money is accessable when its needed and to do this:

  • Capital Guardians obtains the authority to take care of non-cash payments direct to service providers, and ensures transparancy and sourcing the funds. This includes staff use of a debit card
  • a debit card can be requested in the name of the resident, knowing that there is a risk if misplaced and used (tap and go)
  • with agreement of an aged care organisation, they can supply cash to the individual. There might or might not be a cash handling charge here, and agreed limits and controls, as staff have to be trained and follow strict cash management process.

Ross McDonald

Ross is the CEO and founder of Capital Guardians. He has an extensive career in financial management and tech solutions development. Having first created Capital Guardians as a solution for aged care over a decade ago, so his expertise in payments and invoicing for people in protected settings is second to none.

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